Lloyds Banking Group (LYG) calls $500M 6.75% AT1 contingent convertible notes

Rhea-AI Filing Summary

Lloyds Banking Group plc plans to redeem in full its $500,000,000 6.75% Additional Tier 1 perpetual subordinated contingent convertible notes. The notes will be redeemed on 27 June 2026 at 100% of principal plus accrued and unpaid interest to, but excluding, the redemption date.

On the redemption date, interest will cease to accrue and holders will be entitled only to receive the redemption price. Lloyds will irrevocably deposit funds with the trustee or a paying agent before that date, and the notes’ listing on the Global Exchange Market of the Irish Stock Exchange will be cancelled on or shortly after the redemption.

Key Figures

AT1 notes principal: $500,000,000 Coupon rate: 6.75% Redemption price: 100% of principal +2 more

5 metrics

AT1 notes principal $500,000,000 Outstanding principal of 6.75% AT1 notes to be redeemed

Coupon rate 6.75% Fixed rate on Additional Tier 1 perpetual subordinated notes

Redemption price 100% of principal Plus accrued and unpaid interest to, but excluding, the Redemption Date

Redemption Date 27 June 2026 Date when the notes will be redeemed and interest ceases

Supplemental indenture date 19 June 2019 Third Supplemental Indenture governing the securities

Key Terms

Additional Tier 1 Perpetual Subordinated Contingent Convertible Securities, Redemption Date, Redemption Price, forward-looking statements, +1 more

5 terms

Additional Tier 1 Perpetual Subordinated Contingent Convertible Securities financial

"6.75 per cent. Callable Fixed Rate Reset Additional Tier 1 Perpetual Subordinated Contingent Convertible Securities"

Redemption Date financial

"The outstanding Notes will be redeemed on June 27, 2026 (the "Redemption Date")"

The redemption date is the specific day when a debt-like security (such as a bond, preferred share, or certificate) must be repaid by the issuer and the investor receives the principal plus any final interest or dividends. It matters to investors because it tells when cash will return, shapes the effective return and price of the security, and creates reinvestment and timing considerations—like knowing when a loan is due so you can plan what to do with the returned money.

Redemption Price financial

"together with any accrued and unpaid interest to, but excluding, the Redemption Date (the "Redemption Price")"

The redemption price is the amount of money a person receives when they sell or redeem a bond or investment before it matures. It’s important because it determines how much you get back and can affect your overall profit or loss on the investment. Think of it like the price you get when returning a gift card early—it's the value you receive at that time.

forward-looking statements regulatory

"This document contains certain forward-looking statements within the meaning of Section 21E"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

risk-weighted assets (RWAs) financial

"liquidity, risk-weighted assets (RWAs), expenditures or any other financial items or ratios"

Form 6-K: How Foreign Companies Report to the SEC →

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16a

of the Securities Exchange Act of 1934

 30 April 2026

LLOYDS BANKING GROUP plc

(Translation of registrant's name into English)

5th Floor

25 Gresham Street

London

EC2V 7HN

United Kingdom

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports

under cover Form 20-F or Form 40-F.

Form 20-F..X..     Form 40-F 

Index to Exhibits

Item

 No. 1 Regulatory News Service Announcement, 30 April 2026

           re: Notification of Redemption

Lloyds Banking Group plc

Redemption of the Outstanding $500,000,000 6.75 per cent. Callable Fixed Rate Reset Additional Tier 1 Perpetual Subordinated Contingent Convertible Securities

(CUSIP: 53944YAJ2* / ISIN: US53944YAJ29)

April 30 2026. Lloyds Banking Group plc (the "Group") announces that it has issued a notice of redemption for the entire outstanding principal amount of its $500,000,000 6.75 per cent. Callable Fixed Rate Reset Additional Tier 1 Perpetual Subordinated Contingent Convertible Securities (the "Notes"). A notice of redemption pursuant to Section 2.12 Notice of Redemption of the Third Supplemental Indenture dated June 19, 2019 governing the Securities has been distributed to The Bank of New York Mellon, acting through its London Branch, as trustee (the "Trustee").

The outstanding Notes will be redeemed on June 27, 2026 (the "Redemption Date") at an amount equal to 100% of their principal amount, together with any accrued and unpaid interest to, but excluding, the Redemption Date (the "Redemption Price"). Accordingly, the listing of the Notes on the Global Exchange Market of the Irish Stock Exchange will be cancelled on, or shortly after, June 27, 2026.

The location where Holders may surrender the Notes and obtain payment of the Redemption Price is The Bank of New York Mellon, 160 Queen Victoria Street. London EC4V 4LA Attn: Corporate Trust Administration, Email: corpsov4@bnymellon.com

On the Redemption Date, the Redemption Price will become due and payable and interest on the Notes will cease to accrue. Before the Redemption Date, the Group will irrevocably deposit with the Trustee or with a paying agent an amount of money sufficient to pay the total Redemption Price of each of the Notes. When the Group makes such a deposit, all rights of the holders of the Notes will cease, except the holders' rights to receive the Redemption Price and the Notes will no longer be outstanding.

For further information in relation to the redemption of the Notes, please contact:

Group Corporate Treasury:

Kris Middleton

Head of Term Issuance and Capital Structuring

Telephone: +44 (0) 207 356 1122

Niamh O'Connor

Head of Debt Investor Relations

Telephone: +44 (0) 7350 418011

*  This CUSIP number has been assigned to this issue by a third party, and is included solely for the convenience of the holders of the Notes. Neither the Group nor the Trustee shall be responsible for the selection or use of this CUSIP number, nor is any representation made as to its correctness on the Notes or as indicated in any redemption notice.

FORWARD-LOOKING STATEMENTS

This document contains certain forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and section 27A of the US Securities Act of 1933, as amended, with respect to the business, strategy, plans and/or results of Lloyds Banking Group plc together with its subsidiaries (the Group) and its current goals and expectations. Statements that are not historical or current facts, including statements about the Group's or its directors' and/or management's beliefs and expectations, are forward-looking statements. Words such as, without limitation, 'believes', 'achieves', 'anticipates', 'estimates', 'expects', 'targets', 'should', 'intends', 'aims', 'projects', 'plans', 'potential', 'will', 'would', 'could', 'considered', 'likely', 'may', 'seek', 'estimate', 'probability', 'goal', 'objective', 'deliver', 'endeavour', 'prospects', 'optimistic' and similar expressions or variations on these expressions are intended to identify forward-looking statements. These statements concern or may affect future matters, including but not limited to: projections or expectations of the Group's future financial position, including profit attributable to shareholders, provisions, economic profit, dividends, capital structure, portfolios, net interest margin, capital ratios, liquidity, risk-weighted assets (RWAs), expenditures or any other financial items or ratios; litigation, regulatory and governmental investigations; the Group's future financial performance; the level and extent of future impairments and write-downs; the Group's ESG targets and/or commitments; statements of plans, objectives or goals of the Group or its management and other statements that are not historical fact and statements of assumptions underlying such statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend upon circumstances that will or may occur in the future. Factors that could cause actual business, strategy, targets, plans and/or results (including but not limited to the payment of dividends) to differ materially from forward-looking statements include, but are not limited to: general economic and business conditions in the UK and internationally (including in relation to tariffs); imposed and threatened tariffs and changes to global trade policies; acts of hostility or terrorism and responses to those acts, or other such events; geopolitical unpredictability; the war between Russia and Ukraine; the escalation of conflicts in the Middle East; the tensions between China and Taiwan; political instability including as a result of any UK general election; market related risks, trends and developments; changes in client and consumer behaviour and demand; exposure to counterparty risk; the ability to access sufficient sources of capital, liquidity and funding when required; changes to the Group's credit ratings; fluctuations in interest rates, inflation, exchange rates, stock markets and currencies; volatility in credit markets; volatility in the price of the Group's securities; natural pandemic and other disasters; risks concerning borrower and counterparty credit quality; risks affecting insurance business and defined benefit pension schemes; changes in laws, regulations, practices and accounting standards or taxation; changes to regulatory capital or liquidity requirements and similar contingencies; the policies and actions of governmental or regulatory authorities or courts together with any resulting impact on the future structure of the Group; risks associated with the Group's compliance with a wide range of laws and regulations; assessment related to resolution planning requirements; risks related to regulatory actions which may be taken in the event of a bank or Group failure; exposure to legal, regulatory or competition proceedings, investigations or complaints; failure to comply with anti-money laundering, counter terrorist financing, anti-bribery and sanctions regulations; failure to prevent or detect any illegal or improper activities; operational risks including risks as a result of the failure of third party suppliers; conduct risk; risks related to new and emerging technologies, including artificial intelligence; technological changes and risks to the security of IT and operational infrastructure, systems, data and information resulting from increased threat of cyber and other attacks; technological failure; inadequate or failed internal or external processes or systems; risks relating to ESG matters, such as climate change (and achieving climate change ambitions) and decarbonisation, including the Group's ability along with the government and other stakeholders to measure, manage and mitigate the impacts of climate change effectively, and human rights issues; the impact of competitive conditions; failure to attract, retain and develop high calibre talent; the ability to achieve strategic objectives; the ability to derive cost savings and other benefits including, but without limitation, as a result of any acquisitions, disposals and other strategic transactions; inability to capture accurately the expected value from acquisitions; assumptions and estimates that form the basis of the Group's financial statements; and potential changes in dividend policy. A number of these influences and factors are beyond the Group's control. Please refer to the latest Annual Report on Form 20-F filed by Lloyds Banking Group plc with the US Securities and Exchange Commission (the SEC), which is available on the SEC's website at www.sec.gov, for a discussion of certain factors and risks. Lloyds Banking Group plc may also make or disclose written and/or oral forward-looking statements in other written materials and in oral statements made by the directors, officers or employees of Lloyds Banking Group plc to third parties, including financial analysts. Except as required by any applicable law or regulation, the forward-looking statements contained in this document are made as of today's date, and the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this document whether as a result of new information, future events or otherwise. The information, statements and opinions contained in this document do not constitute a public offer under any applicable law or an offer to sell any securities or financial instruments or any advice or recommendation with respect to such securities or financial instruments.

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

LLOYDS BANKING GROUP plc

 (Registrant)

By: Douglas Radcliffe

Name: Douglas Radcliffe

Title: Group Investor Relations Director

Date: 30 April 2026

FAQ

What did Lloyds Banking Group (LYG) announce in this Form 6-K?

Lloyds Banking Group announced it will redeem in full $500,000,000 of 6.75% Additional Tier 1 perpetual subordinated contingent convertible notes. The redemption will retire this specific capital instrument and cancel its stock exchange listing after completion.

What securities is Lloyds Banking Group (LYG) redeeming?

Lloyds Banking Group is redeeming its 6.75% Callable Fixed Rate Reset Additional Tier 1 Perpetual Subordinated Contingent Convertible Securities with an outstanding principal of $500,000,000. These are high-trigger capital instruments counted as Additional Tier 1 in the bank’s capital structure.

When will Lloyds Banking Group (LYG) complete the redemption of these notes?

The notes will be redeemed on 27 June 2026, defined as the Redemption Date. On that date the redemption price becomes due, interest stops accruing, and the notes cease to be outstanding once payment arrangements via the trustee or paying agent are in place.

At what price will Lloyds Banking Group (LYG) redeem the 6.75% AT1 notes?

Lloyds Banking Group will redeem the notes at an amount equal to 100% of their principal plus accrued and unpaid interest to, but excluding, the Redemption Date. This redemption price reflects the contractual call terms under the governing indenture.

What happens to interest on Lloyds Banking Group’s (LYG) AT1 notes after redemption?

Interest on the notes will cease to accrue on the Redemption Date of 27 June 2026. After that point, holders no longer earn coupon payments and retain only the right to receive the redemption price as arranged through the trustee or paying agent.

Will the Lloyds Banking Group (LYG) notes remain listed after redemption?

No. The listing of the notes on the Global Exchange Market of the Irish Stock Exchange will be cancelled on, or shortly after, 27 June 2026. Once redeemed and delisted, the securities will no longer trade on that market.